At the occasion of the High-Level Dialogue Day on Finance, Gender and SDG 11 of COP 23 held in Bonn, the CCFLA released the second edition of its flagship Mapping report “Localizing Climate Finance, Mapping Gaps and Opportunities”. The report presents a global overview of CCFLA member’s responses to close the subnational resilient infrastructure investment gap.

The report highlights the great diversity of financial and non-financial products and services developed by CCFLA members, to support cities and regions climate-smart investments in particular through project preparation (eg. funding and technical advisory services in project preparation phases; technical assistance for sustainable infrastructure planning and financial design.

About 180 initiatives were identified of which 89 were mapped out targeting specifically the urban, subnational and climate nexus, their analysis reveals that:

CCFLA members are leading a total of 27 Project Preparation Facilities (PPFs) with 15 of these PPFs being urban-specific while 25 PPFs operating directly at the project or sub national level.

The subnational level of action is being increasingly acknowledged with a growing number of international coalitions including subnational and/or a city dimension to their action.

A recent and growing commitment from CCFLA members with 50% of the initiatives which started to be operational less than 2 years ago.

Leading or co-leading 50% of the initiatives mapped, Multilateral Development Banks (MDBs) and bilateral or national Development Finance Institutions (DFIs) demonstrate they are leading the movement towards the localization of climate finance. They play therefore a pivotal role in building financing models for resilient infrastructure and a growing trend, within central governments’ instruments, in better integrating subnational stakeholders in the implementation of NDCs